Press release
Contact Lens Solution Market Report 2024: Regulatory Compliance and Quality Assurance
Contact Lens Solution
The Business Research Company presents an extensive market research report on the Contact Lens Solution Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The contact lens market size has grown strongly in recent years. It will grow from $3.33 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing prevalence of vision disorders, research and development innovations, aging population, changing lifestyles and fashion trends, and increasing awareness and education.
The contact lens market size is expected to see strong growth in the next few years. It will grow to $4.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising disposable income, advancements in health and hygiene standards, customization and personalization trends, e-commerce growth, and integration of smart technologies. Major trends in the forecast period include sustainable practices, telemedicine integration, smart packaging and IoT integration, advancements in antimicrobial solutions, and augmented reality (AR) and virtual try-ons.
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Key Market Players:
Major companies operating in the contact lens solution market report are AbbVie Inc., Alcon Laboratories Inc., Hoya Corporation, Bausch + Lomb Inc., Cooper Companies Inc., CooperVision Inc., VSP Vision Care Inc., Cipla Limited, Carl Zeiss Meditech AG, Santen Pharmaceutical Co. Ltd., Johnson & Johnson Vision Care Inc., Menicon Co. Ltd., City Lens, GrandVision B.V., St. Shine Optical Co. Ltd., INTEROJO Co. Ltd., Ophtecs Corporation, X-Cel Specialty Contacts, Contamac Limited, Mark'Ennovy Personalized Care SL, SynergEyes Inc., Clearlab, Stericon Pharma Pvt. Ltd., Neovision Co. Ltd., Clean Care, Ciba Vision Nordic, FreshKon
Market Drivers:
The increasing incidence of vision disorders is expected to propel the growth of the contact lens market going forward. Vision disorders refer to a range of conditions affecting the visual system, including the eyes and the brain, resulting in abnormalities or impairments in the ability to see clearly, interpret visual information, or maintain proper eye health. Contact lens solutions are used in the management of vision disorders by providing a means to clean, disinfect, and store contact lenses, ensuring optimal hygiene and preventing eye infections. For instance, in November 2022, according to the Centers for Disease Control and Prevention, a US-based government administration for public health, over 3 million Americans were suffering from glaucoma (eye conditions that can damage the optic nerve), and it is expected to increase to 6.3 million by 2050. Therefore, the increasing incidence of vision disorders is driving the growth of the contact lens solution market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/contact-lens-solution-global-market-report
The contact lens solution market covered in this report is segmented -
1) By Solution Type: Multi-Purpose, Hydrogen-Peroxide Based, Other Solution Types
2) By Material: Gas Permeable Lens, Silicone Hydrogel Lens, Hybrid Lens
3) By Distribution Channel: E-Commerce, Retail, Other Distribution Channels
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